There is a lot of market speculation about blockchain and its use-cases, especially in the area of IoT. This report outlines five use-cases for blockchain in IoT security and interoperability, and identifies how blockchain can enable new IoT business models for telcos.
There is currently a lot of market speculation about blockchain and its possible use-cases, including how it can be used in the IoT ecosystem.
This short report identifies three different reasons why blockchain is an attractive technology to use in IoT solutions, and how blockchain can help operators move up the IoT value chain by enabling new business models.
This report leverages research from the following recent STL publications:
Source: STL Partners
This future vision won’t be possible unless IoT devices from different networks can share data securely. There are three things that make blockchain an attractive technology to help overcome this challenge and enable IoT ecosystems:
- It creates a tamper-proof audit trails
- It enables a distributed operating model
- It is open-source
- IoT is not a quick win for operators
- Can blockchain help?
- The IoT ecosystem is evolving rapidly…
- The future vision won’t be possible unless IoT devices from different networks can share data securely
- Application 1: Enhancing IoT device security
- Use-case 1: Protecting IoT devices with blockchain and biometric data
- Use-case 2: Preventing losses in the global freight and logistics industry
- Application 2: Enabling self-managing device-to-device networks
- Use-case 1: Enabling device-to-device payments
- Use-case 2: Granting location-access through smart locks
- Use-case 3: Enabling the ‘sharing economy’
- Blockchain is not a silver bullet
- Blockchain in operator IoT strategies